Texas Yale Capital Corp. Purchases 415 Shares of The Progressive Corporation $PGR

Texas Yale Capital Corp. boosted its position in shares of The Progressive Corporation (NYSE:PGR) by 55.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,169 shares of the insurance provider’s stock after purchasing an additional 415 shares during the quarter. Texas Yale Capital Corp.’s holdings in Progressive were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC increased its stake in shares of Progressive by 210.0% during the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock valued at $26,000 after buying an additional 63 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Progressive during the 2nd quarter valued at about $33,000. Westside Investment Management Inc. increased its position in Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Progressive in the 1st quarter valued at about $35,000. Finally, Activest Wealth Management lifted its position in shares of Progressive by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 127 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progressive

In related news, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.10, for a total value of $325,624.50. Following the completion of the transaction, the insider owned 30,388 shares in the company, valued at $7,356,934.80. This trade represents a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lori A. Niederst sold 8,063 shares of Progressive stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $250.18, for a total value of $2,017,201.34. Following the sale, the insider directly owned 39,040 shares of the company’s stock, valued at approximately $9,767,027.20. This represents a 17.12% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 58,500 shares of company stock valued at $14,430,089. Company insiders own 0.34% of the company’s stock.

Progressive Trading Up 3.6%

Progressive stock opened at $217.16 on Friday. The Progressive Corporation has a one year low of $199.90 and a one year high of $292.99. The stock has a market cap of $127.30 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a 50-day moving average of $233.53 and a two-hundred day moving average of $252.14.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing the consensus estimate of $5.04 by ($0.59). The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same period in the previous year, the business earned $3.58 earnings per share. On average, research analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Cantor Fitzgerald raised Progressive to a “hold” rating in a research report on Wednesday, August 13th. The Goldman Sachs Group dropped their price objective on Progressive from $276.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Morgan Stanley set a $214.00 target price on Progressive and gave the company an “underweight” rating in a research note on Monday, October 20th. Finally, Citigroup decreased their price target on shares of Progressive from $312.00 to $301.38 and set a “buy” rating for the company in a research report on Thursday, October 16th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $269.90.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.